Dreaming of your seaside getaway with lower maintenance than a single-family home? How’s the market for condos on the beach on the barrier island of Amelia?
During the first nine months of 2005 ending September 30th, 88 oceanfront condos sold on Amelia Island, Florida, at an average price of $830,092, according to data recorded in the Amelia Island/Nassau County MLS (Multiple Listing Service). Days on the market averaged 107 from list date to closing date. By comparison to the same period last year in 2004, the average price of an oceanfront condo is up about 28%, from $648,831 for the 9-month period last year, 1/1/04 to 9/30/04. Note that MLS information may contain errors and is not guaranteed.
The pace of sales remains very similar year-to-year, with 86 oceanfront condos sold last year during this 9-month period, compared to 88 sales in 2005. However, condo sales in 2005 are occurring more quickly – average days on the market last year was 153, compared to 107 days on the market in 2005, even though prices continue to rise for this prime Amelia Island real estate.
At the high-end of the oceanfront condo market on Amelia Island, are the spacious Carlton Dunes, Summer Beach Resort luxury condos, located next door to the Ritz-Carlton hotel, offering over 3,000 square feet living space. During the first nine months of 2005, nine Carlton Dunes condos sold at an average price of $1,877,778. Three were penthouses on the 7th floor, that sold in the $2,150,000 to $2,250,000 price range. Overlooking the 18th fairway of the Golf Club of Amelia, Summer Beach and the Atlantic Ocean, the Carlton Dunes have sprawling balconies to catch spectacular views.
Please note, when reviewing the information above, that many real estate price statistics you may read about for national and individual state markets, are typically reported for the "median" price, which is different than an "average" price. Median price means 50% of the properties sold for more and 50% of properties sold for less. Local Amelia Island/Nassau County MLS (Multiple Listing Service) data reports don't automatically generate a "median" price, but rather "average" prices.
The estimated mid-point sale, or “median” sale price of an oceanfront condo on Amelia Island for the first three quarters of 2005 was approximately $612,000 (50% of the condo sales transactions sold for more, and 50% of the oceanfront condos sold for less).
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NOTE: MLS information may contain errors and is not guaranteed. Amelia Island/Nassau County MLS sales data as noted gives “average” prices, and was searched during the dates indicated above (first nine months 1/1 through 9/30, comparing 2004 sales to 2005 sales, condominium category, oceanfront only). Properties listed "in-house" with the Amelia Island Plantation's real estate department are not included in MLS data. Some local builders do not list all their new construction properties in the MLS, so not all new construction sales are reflected in this MLS data). The mid-point or median sale for Amelia Island condos is an estimate, and was taken from print-out of all oceanfront condo sales, and pinpointing the halfway point.
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